President Barack Obama is sending Congress his eighth and final budget, proposing to spend a record $4.1 trillion on a number of initiatives. They include launching a new war on cancer, combating global warming and fighting growing threats from ISIS terrorists.
The new spending plan, for the budget year that begins Oct. 1 — just 3½ months before he leaves office — is facing heavy fire from Republicans who hope to capture the White House. The proposal had dim prospects of winning approval in a Republican-controlled Congress.
In all, Obama's budget would increase taxes by $2.6 trillion over the coming decade, nearly double the $1.4 trillion in new taxes Obama sought and failed to achieve in last year's budget.